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Late Thursday, amid swirling speculation concerning the Brown University gunman, the network's Kaitlan Collins posted on social media, noting the confusion and directing people to her channel's 9pm newscast.

Although CNN is certainly not a impeccable news source, her statement resonated for numerous observers. It is one of the organizations where there exists reality-based and generally reliable reporting – notably during fast-moving events like the one taking place in the vicinity of a New Hampshire storage facility.

A Precarious Position Amid a Corporate Tug-of-War

Yet the news network, now four and a half decades old, finds itself in a vulnerable state as two giant media corporations battle over ownership of its parent company, Warner Bros Discovery.

No matter the result, the destiny of CNN has turned into a major game of business acquisition, not as a question of what serves the news-consuming public.

“Here is one more case of the fundamental flaws with origins in decades of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.

The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a larger point.

“It gets presented as a business story with powerful individuals as the central actors, but there is very little discussion of the public interest,” Pickard added.

A Further Element: Donald Trump

This situation is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” antagonist.

Remember the cries of “CNN sucks!” at the president’s rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.

Trump now claims that the network requires new ownership. This can be interpreted as ownership that will protect him from journalistic oversight. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.

There is a basis to favor that suitor more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.

The company, parent of CBS News, also recently appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that venerable news network.

A Possibility of Continued Turmoil

It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a separate entity. This might be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That arrangement could position CNN for another sale. The cycle continues.

In the view of Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should prohibit both deals.

“Either merger would be bad for the country, and both should be opposed by anti-trust authorities,” Wu stated.

The Bigger Issue and a Path Forward

Whatever happens with this particular battle, the underlying crisis endures.

“What we have now is a profoundly anti-democratic system, but we must resist the belief that change is impossible,” Pickard emphasized. Government actions – from the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can tackle it.

Can reform occur in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will not happen in the future.

Initiatives that strengthen independent news organizations, bolster local journalism, fund public media, and outlaw the accumulation of media power in too few hands are within reach – they are vital for a robust democracy.

In the world of media ownership, larger is not superior. And news organizations including CNN cannot be pieces in the most recent corporate chess match.